Private sector HDFC Life Insurance is expecting IRDA approval for three products which the company plans to launch during the year, an official of the company said. “We are expecting approval from IRDA for launching three more products this year one of which is in the health segment”, Rehan Yasser, AVP (marketing) of HDFC Life said.
HDFC Life, which is awaiting the merger of Max Life with it, clocked a total premium income of Rs 19,445 crore in the last fiscal, out of which Rs 8696 crore was new business premium (individual and group), registering a growth of 19 per cent and 34 per cent respectively.
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He said that HDFC Life was already in its third year of profits and any decision relating to a possible IPO would only be taken after the merger process was completed.
HDFC Life today launched a new term plan with an option of getting monthly income.